Author: PPD Team Date: 24/03/2025
Zelestra Energy (formerly Solarpack Corporación Tecnológica S.L) has signed a 25-year power purchase agreement (PPA) with SJVN Limited for setting up a 140 MW Firm and Dispatchable Renewable Energy (FDRE) power project in Solapur, Maharashtra. The agreement was finalized on March 20, 2025.
The project will involve the installation of 250 MWp solar, 180 MW wind, and a 90 MWh battery energy storage system (BESS) to ensure the firm supply of 140 MW power to SJVN. It is expected to be commissioned in 2027.
In October 2024, Ganeko One Energy Private Limited, a special purpose vehicle (SPV) of Zelestra Energy, won the bid for supplying 140 MW FDRE power under the Inter-State Transmission System (ISTS)-Connected Renewable Energy (RE) projects through Tariff Based Competitive Bidding (TBCB). The winning tariff was Rs 4.25 per kWh.
SJVN had initially invited bids in March 2024 for 600 MW FDRE power under the ISTS-Connected RE Projects category, with a greenshoe option of an additional 600 MW. The total capacity was later revised to 1,200 MW, with a greenshoe option of another 1,200 MW.
Additionally, Daimler India Commercial Vehicles Private Limited (DCVL) has signed a PPA with Zelestra Energy for procuring 16.2 MW of renewable energy power for its factories in Oragadam, Kancheepuram, Tamil Nadu. The power will be supplied from Zelestra’s 149 MW wind-solar hybrid power project near Chennai.